CTT Pharma's CEO Issues Letter To Shareholders
Tampa, Florida, United States – TheNewswire – October 3, 2022 - CTT Pharmaceutical Holdings, Inc. (OTC:CTTH).
As a shareholder in CTT I want to update fellow Shareholders about the progress that has been made in the first six months as CEO. I’ll be shedding some light in several areas, including our Nicotine Strips, partnerships, manufacturing, patents, and Aurora's settlement.
The settlement with Aurora was an important step for the company as we were still two years away from going to court. Potential partners that we’re in talks with now stated to us they’d like the case resolved and as CEO I felt the same. Settling the case was a win for CTT as it makes us debt/invoice free, gave us back almost 4 million shares and allows us to further strengthen our patents. Getting our shares back also puts us in an opportunity to use those shares for the right strategic partnership if need be.
CTT's patented dissolvable strips can penetrate and disrupt every industry effectively. However I believe the two greatest needs for our technology from a standpoint of lives lost are for Nicotine and Opioids. In the USA, Nicotine accounts for 480,000 deaths a year and 100,000 deaths annually for opioids.
Creating alternative ways for Nicotine delivery and using different actives on strips for pain management is a priority of mine.
As for Nicotine, I believe cigarette smokers and people who vape need smoke-free alternatives to stop smoking or to continue Nicotine in a manner that doesn’t cause damage to their lungs. I believe our Nicotine Strips would create that opportunity for all kinds of smokers. I look at our ability to penetrate the Nicotine industry equivalent to electric cars changing the car industry. We have the ability to give the consumer a more advanced product. With that said, CTT is looking to file a Premarket Tobacco Product application(PMTA), which in order to do so we need to be the manufacturer or partner with one. With that said, CTT is currently in talks with several manufacturers and as soon as this is finalized we will move forward with filing the PMTA. CTT has had discussions with several large tobacco companies and non-tobacco companies about our dissolvable Nicotine strips. CTT will update shareholders on any future developments in the Nicotine space.
As for opioids, CTT has the ability to create pain management alternatives on a strip that can create a non addictive way of delivering medicine, while simultaneously offering a smarter delivery mechanism. CTT is in talks with potential partners about this opportunity as well and we will keep shareholders posted on further developments.
CTT currently has patents granted or pending in over 55 countries. Since becoming CEO I have focused on strengthening our US Patents to make our Nicotine products stronger. Furthermore, over the past 3 months we have spent more time strengthening our US and Canadian patents and should have details coming out shortly about these new patents. We are spending this time and money protecting what we have so CTT and/or partners our protected. It is also important to note that CTT will fiercely defend our patents from anyone that infringes on our technology.
I’d like to thank our shareholders for taking the time to read this and look forward to giving more updates in the future.
CEO, CTT Pharmaceutical Holdings, Inc
October 3, 2022